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Pentagon Awards Sparton Subsidiary $7.2 Million Anti-Submarine Contract

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On Monday, the Department of Defense announced that it has awarded Sparton (NYSE: SPA  ) subsidiary ERAPSCO a $7.2 million modification to a previously awarded cost-plus-fixed-fee, indefinite-delivery/indefinite-quantity contract. ERAPSCO is being asked to provide engineering and manufacturing development services in support of the High-Altitude Anti-Submarine Warfare system.

ERAPSCO had already been awarded a related contract last week, in which its joint venture with Britain's Electronics Holdings won a $17.9 award to supply AN/SSQ-125 MAC Source Sonobuoys to the U.S. Navy.

The current award appears to be a continuation of a contract the ERAPSCO announced back in September 2011, in which the Navy contracted with the company to design a digital data link and GPS capability into various lines of "HAASW modified sonobuoys" that will be deployed by Boeing's (NYSE: BA  ) new P-8 Poseidon aircraft when conducting anti-submarine warfare.

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9/29/2016 4:02 PM
SPA $25.56 Down -0.46 -1.77%
Sparton CAPS Rating: *****
BA $131.03 Down -1.20 -0.91%
Boeing CAPS Rating: ****